Market News
Equity investors lose N348bn as naira appreciates to N1,436/$
By Abdullateef Aliyu and Peter Moses, Lagos
The stock exchange market yesterday shrank as investors’ equity portfolio value declined by N348 billion amidst continued selling pressures.
Analysts say Investors’ sentiment has been negative, with profit-taking activities seen in some stocks that recently posted positive price movement. Weak bargain hunting in banking names keeps the Nigerian market tight, with some corrections seen in some overpriced stocks.
A total of 39 stocks depreciated, with the most loss coming from the Banking sector, reflecting broad-based market corrections. Oil and consumer goods stocks have been major drivers of the price depreciation, supported by losses booked in financial stocks.
The All-Share Index, fell by 547.32 basis points in today’s trading session, indicating a 0.36% decline to close at 150,026.55.
Hence, the Nigerian Exchange market capitalisation fell by N347.74 billion to close at N95.31 trillion, reflecting a decline in trading activities.
Daily Trust reports that trading dynamics weakened significantly across all metrics as volume plunged 44.54% to 619.63 million shares, transaction values declined 44.58% to N16.5 billion, and deal count fell 8.93% to 24,865.
This trend underscores diminished institutional participation, reduced transaction sizes, and subdued retail investor engagement amid ongoing risk-off positioning and portfolio rebalancing strategies.
FCMB led the volume chart, accounting for 24.25% all transaction volume, followed by CONHALLPLC (12.79%), ZENITHBANK (6.77%), STERLINGNG (6.22%), and ACCESSCORP with 5.23%.
On value traded, ZENITHBANK generated 15.22% of the total value of trade, thereby making it the highest traded on the exchange. UPDC topped the best performers, gained +9.83%, followed by FCMB (+8.00%), OMATEK (+7.44%), AIICO (+5.35%), MANSARD (+5.26%), HONYFLOUR (+4.78%), and nine others.
A total of thirty-nine (39) stocks depreciated, according to data from the Nigerian bourse. LEGENDINT top losers chart, down by -9.93%, followed by CHAMPION (-9.72%), TANTALIZER (-8.12%), SOVRENINS (-7.51%), LINKASSURE (-7.50%), and MAYBAKER (-6.52%).
Naira appreciates to N1436/$
Meanwhile, the naira appreciated against the US dollar to N1436 at the official window as pressures from rising FX demand for international payments eased on Thursday.
According to the Nigerian Foreign Exchange Market (NFEM) data released by the Central Bank of Nigeria, the spot fx rate hit an intraday high of N1441, a sharp appreciation from N1446 in the previous day.
The local currency hit an intraday low of N1434 per dollar, reflecting the absence of significant demand for the US dollar that total supply cannot handle sufficiently at the official window.
The official spot FX rate closed at N1436.7420 on Thursday as against the exchange rate of N1438.4950 reported by the CBN on Wednesday.
In the parallel market, the naira settled at N1,450/$ as CBN halts supply amidst growing external reserves. The nation’s foreign reserves rose to about $43.3 billion, covering 12 months imports.
